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Finance 12/06/2013 About 450bn soums directed to construction of standard houses in rural areas
About 450bn soums directed to construction of standard houses in rural areas
Tashkent, Uzbekistan (UzDaily.com) -- Commercial banks of Uzbekistan issued 450 billion soums to construction of houses on standard projects in rural areas in five months of 2013, the Central Bank of Uzbekistan said.

This year, Uzbekistan plans to construct 10,000 individual houses on standard projects at 353 rural areas.

It is planned to mobile 1.4 trillion soums of resources of Qishloq Qurilish Bank, Ipoteka Bank and National Bank of Uzbekistan for Foreign Economic Activity.

According to the Central Bank, these financial institutions allocated 450 billion soums to construction of these houses in five months of 2013.

The Central Bank said that those, who want to purchase house, need to submit 25% of the house cost and receive a preferential loan for 15 years under 7% APR interest rate.

The banking sector regulator said that it is also planned to construct 105 blocks of flats for young families. The blocks are also constructed due to loans of the banks and will be realized due to mortgage loans.

The banks are also financing creation of engineering-communication, social and market infrastructure. The banks directed loans for 315 billion soums to these projects in past period of 2013.

As of 1 June 2013, the banks also issued consumer loans for 13.1 billion soums to population of rural areas to finance purchase of locally made products.

The Central Bank said that the banks also support development of businesses in the rural areas and in last five months, they issued 302 billion soums to support family businesses and craftsmen.

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